I think that there will be a long-term correction wave in the global markets on a macro scale, in this context, I think we will observe a pattern in #UKX as I mentioned in the chart.. Markets will become very interesting after 3,4 months, we will wait and see..
What I wrote is about strong possibilities that most investors do not express or expect.. Please do...
UK100 is Bearish - We look to Sell at 5965
▪️ Overnight price action has drifted lower and remains pressured by the medium term bearish bias.
▪️ Levels close to the 61.8% pullback level of 6000 found sellers.
▪️ Broken out of the channel formation to the downside.
▪️ We look for a re-test of the upward trending resistance.
▪️ Further downside is expected...
Sell Barratt Developments (BDEV)
Barratt Developments PLC is a holding company. The Company is principally engaged in acquiring and developing land, planning, designing, and constructing residential property developments and selling the homes, which it builds throughout Britain.
Market Cap: £5.24Billion
Barratts share price has stalled at resistance around...
Sell Wetherspoon’s (JDW)
J D Wetherspoon plc owns and operates pubs throughout the United Kingdom and Ireland. The Company aims to provide customers with food and drinks. The Company operates a trading estate of approximately 879 pubs.
Market Cap: £1.08Billion
Wetherspoons bounced impressively from the lows but now appears to be running out of steam. The...
UK100 is Bearish - We look to Sell at 5933
▪️ Broken out of the channel formation to the downside.
▪️ We have a 50% Fibonacci pullback level of 5936 from 6209 to 5665.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5933,...
Sell Melrose (MRO)
Melrose Industries PLC is a United Kingdom-based company that is focused on acquiring manufacturing businesses. The Company’s segments include Aerospace, a multi-technology supplier of air frame and engine structures, including aerostructures, engine systems and special technologies; Automotive, which comprises Driveline, All Wheel Drive and...
Sell Standard Life Aberdeen (SLA)
Standard Life Aberdeen plc is a United Kingdom-based global investment company. The Company's operating segments include Asset management and platforms, and Insurance associates and joint ventures. The asset management and platforms segment primarily relates to its asset management and platform businesses.
Market Cap: ...
Sell Antofagasta (ANTO)
I have stayed out of stocks for a few weeks, but now I am ready to start fading this recently rally in anticipation of a fresh wave of selling. Looking at the index charts (will post shortly) there is scope for a bit more upside in the very short term, but it is looking increasing limited.
I have posted 2 entries on ANTO - Hopefully...
We look to Sell at 7445
Bespoke resistance is located at 7445
Positive overnight flows lead to an expectation of a firm open this morning
We have a 61.8% Fibonacci pullback level of 7432 from 7729 to 7003
Although the anticipated move lower is corrective, it does offer ample risk/reward today
Expect trading to remain mixed and volatile
Stop: 7485
Target 1:...
We look to Sell at 7380
Trading has been mixed and volatile.
The trend of lower highs is located at 7382.
Positive overnight flows lead to an expectation of a firm open this morning.
Preferred trade is to sell into rallies.
Expect trading to remain mixed and volatile.
Stop: 7415
Target 1:7275
Target 2: 7200
Technicals
Persimmon is holding at key support and showing signs of attracting value hunters. I also note the bullish divergence on the relative ratio (Persimmon share price / UKX). The price of sterling has been a drag on the shares and with GBP moving higher yesterday it could offer some relief to domestic stocks. Technically and fundamentally, Persimmon looks...
Been watching this lately as it has been appearing in my scans. The trading volume appears to have been quite consistent in recent weeks and trend of higher lows is encouraging.
The close above the 10 EMA is a cue to buy and target the resistance above.
Target: 2.55p
Stop: 1.644p
Jubilee Metals has corrected lower in recent weeks to retest the breakout level of 2.80p and slightly below this at the 61.8% Fibonacci support level. The large reversal today is an encouraging sign which the shares set to close above the 10EMA. It’s also been noted that trading volume has been consistently above 50k for the past 90 days. It looks an interesting...
Technical
Howden Joinery looks interesting on a technical basis. The shares shot higher to new highs following a bullish update to the market. We have since seen the share price unwind to some sensible levels as the overall market continues in this condolidaiton phase. The shares have reached a confluence of Fibonacci support levels, which I have highlighted on...
Technical
Ocado has had a dramatic rise in price over the past 18 months. The breakout level at 1163p has been retested and has so far been well supported. The shares have been in a consolidation phase for the past few weeks, but some signs are emerging that could put an end to the sideways price action. A move back to and above the previous highs is expected...
The move lower got even closer to our entry point than it did yesterday (see related idea).
We may have missed the entry again. Still keen on buying dips (for now)!
